ADVANCES TO SETTLERS.

Mt Benger Mail, Volume 17, Issue 850, 29 August 1896, Page 4

ADVANCES TO SETTLERS.

[From the Stab's Parliamentary Reporter.] WELLINGTON, August 21. The Government Advances to Settlers Act Amendment Bill was committed.—On clause 2 (providing that fixed loans may be granted on freehold security) Mr G. J. Smith moved that the amount of the fixed loan shall not exceed £2,500 to any one borrower.—The Hon. J. M'Keozie hoped that the amendment would be postponed till the clause was reached allowing £4,000 to be borrowed. Captain Russell. trusted that the matter would be settled straight off. He could not believe that the Committee would consent to the proposal to lend up to £4,000. Mr Buddo moved a further amendment that the amount of the loan should not exceed three • fifths of the value of the security instead of one-half.— The Hon. J. M'Kenzie hoped that this would not be pressed. If settlers wanted to get a loan at a three-fifths margin they could get it for the full term of thirty-six years. He denied that the scheme had broken down, as they had £700,090 earning interest, and £120,000 more ready to be taken up. —After considerable discussion Mr Buddo's amendment was negatived on the voices.— Mr G. J. Smith's amendment was lost by 26 to 23. Captain Russell next moved to strike out clause 6 (providing for the repeal of the Act as to suburban lands).—Sir R. Stout said if they were to have suburban land they should also have urban land, and he moved an amendment accordingly.—The Hon. J. M'Kenzie opposed the amendment. Sir R. Stout's object, he said, was clear. He wanted to have cheap money all round in cities as well as other places.—Sir Robert Stout's amendment was lost by 36 to 13.—0n the whole clause being put Captain Russell called for a division, with the result that the clause was retained by 32 to 13.—0n clause 7 Mr Allen moved an amendment to test the question whether advances should be made on suburban lands held or occupied for residential or manufacturing purposes, as provided in the clause.— The amendment was negatived by 30 to 15. An amendment by Mr Flatman to limit the advances on this class of suburban land to one-third of the value of the security, instead of one-half, was lost on the voices.—Clause 8 was amended on the Hon. Mr M'Kenzie's motion to provide that suburban land occupied for farming, dairying, or market gardening purposes shall be deemed to be suburban land wherever it may be situated bo long as it is used for such purposes.—Clause 10 (increasing the maximum of the advances under the Act frbm £2,500 to £4,000) was retained by 22 to 19.—Mr Heke moved a new clause to allow Natives to apply for loans under the Act.—The clause was read a second time by 25 to 17.—The Minister of Lands opposed the clause, but it was added to the Bill by 22 to 18.—On the motion of the Minister of Lands a new clause was added bringing reserves made by proclamation under section 50 of the Land Act, 1882, under the definition of securities under the Advances to Settlers Act, and to include in the definition of securities deferred-pay-ment licenses and small-grazing runs of educational reserves. —The Bill was read as amended.—Several members entered their protests against the late sittings, the subject being discussed for upwards of half an hour.—The House rose at 4.5 a.m.